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Local Singer-Songwriter Collaborated With Artists From Around the World on New Album Recorded During Quarantine
Locally based singer-songwriter Alex Ashbrook quit a desk job in 2018 to enroll in the NEOMFA program at Cleveland State University. A graduate student by day, Ashbrook also leads the local indie pop group Sharkey Barcus, a collaborative effort with a revolving door of fellow Northeast Ohio musicians.As he began writing the band's sophomore album while on summer break from grad school, Ashbrook relied upon Fiverr.com, a website that helps musicians collaborate remotely. Ashbrook recorded everything he could at home (vocals, guitar, bass, keys) before looking to the online freelance resource to fill in the blanks.
“At first, working with strangers was not ideal. I very much enjoy the intimacy of working with my friends,” says Ashbrook in a press release. “What became clear, however, was that there was an overabundance of talented musicians all over the world who were stuck at home, eager for a chance to contribute their talent. I had used Fiverr.com for a saxophone solo once, but this time, there are 21 features on the record. I would sing them the parts or write the notes out if they wanted that. Sometimes, it didn't work out, but I think that might have been a language barrier. The musicians are based in all parts of the world.”
The result is Sharkey Barcus, Ashbrook’s sophomore album. Written and recorded in Tremont, the album has a laid back vibe that's apparent right from the opening track, “Waitin’,” a song that sounds like a cross between Beck and Jack Johnson.
The release comes out today on all digital outlets.
“I didn’t want to write about the pandemic,” says Ashbrook. “Instead, I wanted to write sometime that transcended it. I think people want that type of distraction right now.”
Alex Schenkel, a screen printer in southern Ohio who rehabs old film cameras found at local thrift stores, provided the artwork, and local mastering engineer Adam Boose did the mastering.
Ashbrook will donate proceeds from the sales to the local Cleveland chapter of Black Lives Matter and the ACLU of Ohio.
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Budget-minded business owners' love affair with gig workers is growing
In the wake of the coronavirus pandemic, the range of on-demand solutions and options available to budget-minded business owners is increasing, thanks to the rise of online marketplaces, affordably priced cloud apps and freelance gig sites.
Now, at a fraction of typical costs and sometimes even for free, you can get virtually anything you need, from video to SEO or marketing help: Graphic design services starting at $5. Email marketing for a handful of cents. Sprawling libraries full of stock photos, free for commercial use. Professionally crafted websites that anyone can quickly get up and running beginning at $2 a pop.
The gig economy's moment has arrived, and all those pennies now flowing to nontraditional sources are quickly adding up to create many more opportunities for businesses as well as everyday working professionals, especially those seeking a new side hustle.
More than 57 million Americans (representing 35% of the US workforce) freelanced last year, per nonprofit advocacy organization Freelancers Union. Likewise, over 6 million skilled gig workers are now operating just in America's top 30 cities alone, according to online freelance marketplace Fiverr.com's annual Freelance Economic Impact Report, conducted in partnership with Rockbridge Associates.,,, http://www.fiverr.com/s2/ba5c0fe091
According to the report, 6 in 10 freelancers expect to earn as much or more than they did in 2019, which amounted to a collective $150 billion.
Freelance Economic Impact Report 2020, Fiverr.com and Rockbridge Associates
Outsourcing is the new in-houseCoupled with the continuing rise in remote work prompted by Covid-19, along with industry growth that's compounding by double or even triple digits in select global territories, it's not only clear that gig work now enjoys greater prominence than ever before, it's also becoming increasingly apparent that outsourcing is quickly becoming the new in-house.
"I don't know why anyone would build most business platforms or websites [from scratch] anymore," says Joseph Olin, executive director for the Video Game Bar Association, which represents legal practitioners in the interactive entertainment space. "The biggest challenge for most businesses is simply deciding which solutions provider to choose from."
As a result, working professionals and organizations seeking on-demand alternatives to traditional business arrangements and solutions are finding it increasingly simple to collaborate and connect. "With the expansion and globalization of gig platforms, talented professionals from around the world can offer their services to a much wider audience of potential clients," says Brie Weiler Reynolds, career development manager for FlexJobs, which has created a guide to popular freelance and gig economy job platforms. "These platforms can allow for much quicker transactions and collaborations and have a streamlining effect on the whole [project development and innovation] process."
Freelance marketplaces and the gig economy are becoming part of the new normal.
"In the future, we'll think in terms of 'platform economies' [vs. marketplaces]," says Hugh Durkin, director of product development for marketing, sales and customer service software provider HubSpot. "Because of the much lower costs [associated with using these solutions], it's not uncommon for bootstrapped, self-funded businesses to become more meaningful in terms of revenue."
Opportunities in every category and age groupIt's not just budding entrepreneurs who are finding creative ways to assemble ragtag teams of freelance superstars and stretch every dollar further. Perhaps the most telling signs of sea change lie in corporate America's growing embrace of on-demand and outsourcing practices, with the share of gig workers at U.S businesses having ballooned 15% since 2010, according to the ADP Research Institute.
During the pandemic, it's provided an easy way for many clients, including Fortune 500 firms, to fill in creative gaps and source specific film footage that would otherwise be tough to produce while under stay-at-home orders.
Andrew Krause
founder of marketing communications firm AKA
Over 30% of 1099-MISC contractors doing gig-based work now are over age 55, pointing to growing opportunities for working professionals in every category and age group. But nowhere is the growth potential in the space greater than for small businesses, who are increasingly turning to freelance marketplaces and online sites to outsource (or crowdsource) common day-to-day tasks for pennies on the dollar. And whether they need help with social media management or professional voice-overs, drop shipping or app development, countless entrepreneurs across the globe are quickly adding these solutions to their list of go-to resources.
"Although we're a 22-year-old business, we consistently use stock image, music and video providers," says Andrew Krause, founder of marketing communications firm AKA. "During the pandemic, it's provided an easy way for many clients, including Fortune 500 firms, to fill in creative gaps and source specific film footage that would otherwise be tough to produce while under stay-at-home orders, let alone quickly."
Managing the troopsKrause cautions, though, that while freelance creatives provide solutions and are a great way to outsource time-sensitive work or fill in any specific skills gaps that your company may have, results can vary. "It takes a skilled hand to assemble and watch over people."
The key to being successful, he says, is simply to be clear with freelance providers about what your project needs are. Likewise, it's important to vet freelancers' capabilities and work portfolio upfront, establish clear deadlines and milestones, and keep a close eye on project management.
Andrew Vine, head of professional speaking agency The Insight Bureau, said his company uses freelance marketplaces, off-the-shelf templates and online tools to outsource and streamline many aspects of its operations. "We use Upwork.com [freelance] staff to take on ad hoc projects in a way that temporary agencies could never accommodate, sites like SurveyMonkey to source customer feedback, and Zoho CRM [sales software] to handle customer relationship management," he says. "Similarly, we use solutions such as Calendly to [manage our schedule] and avoid the Ping-Pong match involved in setting up appointments. There are plenty of affordable, web-based solutions that help us remain agile."
Michael Morgenstern, senior vice president of marketing for expert witness provider The Expert Institute says they relied on several free resources to grow and scale their business. "We use Trello to manage our projects, Brainlabs' open-source scripts to automate certain high-tech actions, and Unsplash.com is our go-to resource for free, high-quality stock imagery."
Agile and affordable solutions such as these can often be a vital go-to resource for start-ups and other, bootstrapped ventures, helping lower barriers to market entry and offer the tools needed to compete with larger firms. Ironically though, with so many outsourced and on-demand options now available, and just a click away, the biggest challenge for many businesses is simply picking the right ones.
Happily, say many executives, it's a good problem to have, even if the options can sometimes prove overwhelming.
5 tips to ensure success when using freelance marketplacesIf you're looking to get started yourself, some online marketplaces where you can find freelancers or on-demand services include Fiverr, FlexJobs, Freelancer.com, http://www.fiverr.com/s2/ba5c0fe091, Guru, Toptal and Upwork. Yet there are a few things to keep in mind when starting out, says Brent Messenger, vice president of public policy and community engagement at Fiverr. Knowing these will ensure a more successful outsourcing experience.
If you're looking for help with online automation, or stock assets such as photos, images and plug-and-play solutions, the following sites can also be of service. Some may offer assets and solutions for free, others for a nominal fee or on a subscription basis.
Email and newsletter marketing: AWeber, Constant Contact, Drip, GetResponse, HubSpot, iContact, MailChimp, SendInBlue
Photos and videos: Unsplash, Shutterstock, StockSnap.io, DepositPhotos, Videezy, VideoHive
Logos, graphics and branding: Crowdspring, 99Designs, Behance, Canva, Easil, Adobe Spark
Web design and development: Shopify, Squarespace, Wix, WordPress, GoDaddy, TemplateMonster, ThemeForest
7,169
NEW YORK--(BUSINESS WIRE)--http://www.fiverr.com/s2/ba5c0fe091, Fiverr International Ltd. (NYSE: FVRR), the company that is changing how the world works together, today reported financial results for the second quarter of 2020 ended June 30, 2020. Complete operating results and management commentary can be found by accessing the Company’s shareholder letter posted to its investor relations website at investors.fiverr.com.
“We have delivered an outstanding quarter of results as our strong execution amidst the COVID-19 pandemic resulted in 82% y/y growth in revenue and Adjusted EBITDA profitability. I’m incredibly proud that Fiverr has been playing an important role in the livelihoods of individuals and businesses everywhere during this challenging global environment,” said Fiverr founder and CEO Micha Kaufman. “As businesses endeavor to reshape their team structures and accelerate the pace of digital transformation, I believe there is a tremendous amount of growth runway ahead of us.”
Ofer Katz, Fiverr CFO, added, “Fiverr has reached an inflection point in Q2, having achieved Adjusted EBITDA profitability and brought our topline scale to the next level. While the global macroeconomic conditions remain highly uncertain, we are confident that our business model, strong execution ability and financial discipline will continue to drive our growth forward.”
Second Quarter 2020 Financial Highlights
Financial Outlook
We are introducing Q3’20 guidance and raising our full-year guidance. Given these unprecedented times and the dynamic impact of COVID-19 on economies globally, we will provide investors with updated business trends as they evolve.
Q3 2020
FY 2020
Revenue
$48.0 - $49.0 million
$177.5 - $179.5 million
Year over year growth
72 - 76%
66 - 68%
Adjusted EBITDA
$2.0 - $3.0 million
$4.5 - $6.5 million
_____________________________1 Adjusted EBITDA is a non-GAAP financial measure. See “Key Performance Metrics and Non-GAAP Financial Measure” for additional information regarding this and other non-GAAP metrics used in this release.
Conference Call and Webcast Details
Fiverr will host a conference call to discuss its financial results on Wednesday, August 5, 2020, at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Fiverr’s Investor Relations website. An archived version will be available on the website after the call. Investors and analysts can participate in the conference call by dialing (866) 360-3590, or (412) 317-5278 for callers outside the United States, and mention the passcode, “Fiverr.” A telephonic replay of the conference call will be available until Wednesday, August 12, 2020, beginning one hour after the end of the conference call. To listen to the replay please dial (877) 344-7529, or (412) 317-0088 for callers outside the United States, and enter replay code 10145989.
About Fiverr
Fiverr's mission is to change how the world works together. The Fiverr platform connects businesses of all sizes with skilled freelancers offering digital services in more than 400 categories, across 8 verticals including graphic design, digital marketing, programming, video and animation. In the twelve months ended June 30, 2020, 2.8 million customers bought a wide range of services from freelancers across more than 160 countries. We invite you to visit us at fiverr.com, read our blog and follow us on Facebook, Twitter and Instagram.
CONSOLIDATED BALANCE SHEETS
(in thousands)
June 30,
December 31,
2020
2019
(Unaudited) (Audited) Assets Current assets: Cash and cash equivalents$
127,542
$
24,171
Marketable securities
44,300
88,559
User funds
84,610
55,945
Bank deposits
30,000
15,000
Restricted deposit
324
324
Other receivables
3,570
3,117
Total current assets
290,346
187,116
Marketable securities
87,841
21,805
Property and equipment, net
5,499
5,321
Intangible assets, net
6,048
7,188
Goodwill
11,240
11,240
Restricted deposit
3,168
3,168
Other non-current assets
471
522
Total assets
$
404,613
$
236,360
Liabilities and Shareholders' Equity Current liabilities: Trade payables
$
5,963
$
3,749
User accounts
79,933
53,013
Deferred revenue
5,054
3,248
Other account payables and accrued expenses
25,601
21,426
Current maturities of long-term loan
508
503
Total current liabilities
117,059
81,939
Long-term loan and other non-current liabilities
3,970
5,612
Total liabilities
121,029
87,551
Shareholders' equity: Share capital and additional paid-in capital
446,819
306,334
Accumulated deficit
(164,042
)
(157,763
)
Accumulated other comprehensive income
807
238
Total shareholders' equity
283,584
148,809
Total liabilities and shareholders' equity
$
404,613
$
236,360
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except loss per share data)
Three Months Ended Six Months Ended June 30, June 30,2020
2019
2020
2019
(Unaudited) (Unaudited) Revenue$
47,130
$
25,912
$
81,280
$
49,675
Cost of revenue
7,957
5,305
14,777
10,241
Gross profit
39,173
20,607
66,503
39,434
Operating expenses: Research and development
10,533
8,457
20,507
16,073
Sales and marketing
23,207
15,852
41,428
31,228
General and administrative
6,031
5,621
11,621
9,977
Total operating expenses
39,771
29,930
73,556
57,278
Operating loss
(598
)
(9,323
)
(7,053
)
(17,844
)
Financial income (expense), net
491
(10
)
822
204
Loss before income taxes
(107
)
(9,333
)
(6,231
)
(17,640
)
Income taxes
(17
)
(20
)
(48
)
(26
)
Net loss
(124
)
(9,353
)
(6,279
)
(17,666
)
Deemed dividend to protected ordinary shareholders
-
-
-
(632
)
Net loss attributable to ordinary shareholders
(124
)
(9,353
)
(6,279
)
http://www.fiverr.com/s2/ba5c0fe091
(18,298
)
Basic and diluted net loss per share attributable to ordinary shareholders $ (*)$
(0.88
)
$
(0.19
)
$
(2.06
)
Basic and diluted weighted average ordinary shares
33,172,593
10,664,285
32,484,425
8,868,123
* Represents amounts less than 0.01
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended
Six Months Ended
June 30,
June 30,
2020
2019
2020
2019
(Unaudited)
(Unaudited)
Operating Activities Net loss$
(124
)
$
(9,353
)
$
(6,279
)
$
(17,666
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization
1,016
910
1,981
1,717
Amortization of discount on marketable securities
(66
)
-
(337
)
-
Shared-based compensation
3,062
2,216
5,824
3,962
Net income from exchange rate fluctuations
19
116
213
63
Changes in assets and liabilities: User funds
(20,737
)
(1,942
)
(28,665
)
(10,267
)
Other receivables
(335
)
(44
)
113
(1,291
)
Trade payables
2,764
365
2,180
876
User accounts
19,782
1,942
26,920
10,267
Deferred revenue
796
-
1,806
-
Other account payables and accrued expenses
857
2,599
3,582
4,093
Payment of contingent consideration
(1,960
)
-
(1,960
)
-
Non-current liabilities
164
(163
)
162
(105
)
Net cash provided by (used in) operating activities
5,238
(3,354
)
5,540
(8,351
)
Investing Activities Acquisition of business, net of cash acquired
-
-
-
(9,967
)
Purchase of property and equipment
(406
)
(282
)
(537
)
(459
)
Capitalization of internal-use software
(166
)
(221
)
(451
)
(324
)
Other receivables and non-current assets
2
-
54
(122
)
Bank deposits
(15,000
)
(10,000
)
(15,000
)
(20,000
)
Investment in marketable securities
(135,036
)
(109,391
)
(171,822
)
(109,391
)
Proceeds from sale of marketable securities
113,451
-
150,539
-
Net cash used in investing activities
(37,155
)
(119,894
)
(37,217
)
(140,263
)
Financing Activities Proceeds from exercise of options
2,704
485
4,652
541
Proceeds from initial public offering, net
-
117,362
-
117,362
Proceeds from issuance of protected ordinary shares, net
-
-
-
4,340
Payment of deferred issuance costs related to initial public offering
-
-
-
(405
)
Proceeds from follow on offering, net
130,670
-
130,670
-
Payment of contingent consideration
(2,040
)
-
(2,040
)
-
Repayment of long-term loan
(124
)
(116
)
(244
)
(228
)
Tax withholding in connection with employees' options exercises
(16
)
-
2,256
-
Net cash provided by financing activities
131,194
117,731
135,294
121,610
Effect of exchange rate fluctuations on cash and cash equivalents
55
(7
)
(246
)
161
Increase (decrease) in cash and cash equivalents
99,332
(5,524
)
103,371
(26,843
)
Cash and cash equivalents at the beginning of period
28,210
34,636
24,171
55,955
Cash and cash equivalents at the end of period
$
127,542
$
29,112
$
127,542
$
29,112
KEY PERFORMANCE METRICS
Twelve Months Ended
June 30,
2020
2019
(Unaudited) Annual active buyers (in thousands)
2,792
2,175
Annual spend per buyer ($)$
184
$
157
RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT
(in thousands, except gross margin data)
Three Months Ended Six Months Ended June 30, June 30,2020
2019
2020
2019
(Unaudited) (Unaudited) GAAP gross profit$
39,173
$
20,607
$
66,503
$
39,434
Add: Share-based compensation
87
28
157
50
Depreciation and amortization
499
450
973
856
Non-GAAP gross profit
$
39,759
$
21,085
$
67,633
$
40,340
Non-GAAP gross margin
84.4
%
81.4
%
83.2
%
81.2
%
RECONCILIATION OF GAAP TO NON-GAAP NET INCOME (LOSS) AND NET INCOME (LOSS) PER SHARE
(in thousands, except share and per share data)
Three Months Ended Six Months Ended June 30, June 30,2020
2019
2020
2019
(Unaudited) (Unaudited) GAAP net loss attributable to ordinary shareholders$
(124
)
$
(9,353
)
$
(6,279
)
$
(18,298
)
Add: Deemed dividend to protected ordinary shareholders
-
-
-
632
Depreciation and amortization
1,016
910
1,981
1,717
Share-based compensation
3,062
2,216
5,824
3,962
Other initial public offering related expenses
-
416
-
416
Contingent consideration revaluation and acquisition related costs
(337
)
868
(466
)
1,446
Non-GAAP net income (loss)
3,617
(4,943
)
1,060
(10,125
)
GAAP basic weighted average number of ordinary shares outstanding
33,172,593
10,664,285
32,484,425
8,868,123
Add: Additional weighted average shares giving effect to exchange of protected ordinary shares at the beginning of the period
-
15,959,764
-
17,266,411
Non-GAAP basic weighted average number of ordinary shares outstanding
33,172,593
26,624,049
32,484,425
26,134,534
Non-GAAP basic net income (loss) per share attributable to ordinary shareholders
$
0.11
$
(0.19
)
$
0.03
$
(0.39
)
Non-GAAP diluted weighted average number of ordinary shares outstanding
36,053,713
26,624,049
34,715,990
26,134,534
Non-GAAP diluted net income (loss) per share attributable to ordinary shareholders
$
0.10
$
(0.19
)
$
0.03
$
(0.39
)
Note: Non-GAAP basic and diluted net loss per ordinary share for the three and six months ended June 30, 2019 were calculated based on ordinary shares outstanding after accounting for the exchange of Fiverr’s then outstanding protected ordinary shares into 18.7 million ordinary shares as though such event had occurred at the beginning of the periods.
RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA
(in thousands, except adjusted EBITDA margin data)
Three Months Ended Six Months Ended June 30, June 30,2020
2019
2020
2019
(Unaudited) (Unaudited) GAAP net loss$
(124
)
$
(9,353
)
$
(6,279
)
$
(17,666
)
Add: Financial (income) expense, net
(491
)
10
(822
)
(204
)
Income taxes
17
20
48
26
Depreciation and amortization
1,016
910
1,981
1,717
Share-based compensation
3,062
2,216
5,824
3,962
Other initial public offering related expenses
-
416
-
416
Contingent consideration revaluation and acquisition related costs
(337
)
868
(466
)
1,446
Adjusted EBITDA
$
3,143
$
(4,913
)
$
286
$
(10,303
)
Adjusted EBITDA margin
6.7
%
(19.0
%)
0.4
%
(20.7
%)
RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES
(in thousands)
Three Months Ended Six Months Ended June 30, June 30,2020
2019
2020
2019
(Unaudited) (Unaudited) GAAP research and development$
10,533
$
8,457
$
20,507
$
16,073
Less: Share-based compensation
1,202
901
2,244
1,536
Depreciation and amortization
130
http://www.fiverr.com/s2/ba5c0fe091http://www.fiverr.com/s2/ba5c0fe091
109
246
212
Acquisition related costs
-
47
-
94
Non-GAAP research and development
$
9,201
$
7,400
$
18,017
$
14,231
GAAP sales and marketing
$
23,207
$
15,852
41,428
$
31,228
Less: Share-based compensation
552
467
1,079
723
Depreciation and amortization
338
308
668
564
Acquisition related costs
-
410
121
698
Non-GAAP sales and marketing
$
22,317
$
14,667
$
39,560
$
29,243
GAAP general and administrative
$
6,031
$
5,621
$
11,621
$
9,977
Less: Share-based compensation
1,221
820
2,344
1,653
Depreciation and amortization
49
43
94
85
Other initial public offering related expenses
-
416
-
416
Contingent consideration revaluation and acquisition related costs
(337
)
411
(587
)
654
Non-GAAP general and administrative
$
5,098
$
3,931
$
9,770
$
7,169
Key Performance Metrics and Non-GAAP Financial Measures
This release includes certain key performance metrics and financial measures not based on GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating expenses, Non-GAAP net income (loss) and Non-GAAP net income (loss) per share as well as operating metrics, including GMV, spend per buyer, active buyers and take rate. Some amounts in this release may not total due to rounding. All percentages have been calculated using unrounded amounts.
We define GMV or Gross Merchandise Value as the total value of transactions ordered through our platform, excluding value added tax, goods and services tax, service chargebacks and refunds. We define active buyers on any given date as buyers who have ordered a Gig or other services on our platform within the last 12-month period, irrespective of cancellations. Spend per buyer on any given date is calculated by dividing our GMV within the last 12-month period by the number of active buyers as of such date. Take rate is revenue for any such period divided by GMV for the same period.
Management and our board of directors use these metrics as supplemental measures of our performance that is not required by, or presented in accordance with GAAP because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items not directly resulting from our core operations. We also use these metrics for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and to evaluate our capacity to expand our business.
Adjusted EBITDA, Adjusted EBITDA margin, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating expenses, Non-GAAP net income (loss) and Non-GAAP net income (loss) per share as well as operating metrics, including GMV, spend per buyer, active buyers and take rate should not be considered in isolation, as an alternative to, or superior to net loss, revenue, cash flows or other performance measure derived in accordance with GAAP. These metrics are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Management believes that the presentation of non-GAAP metrics is an appropriate measure of operating performance because they eliminate the impact of expenses that do not relate directly to the performance of our underlying business.
These non-GAAP metrics should not be construed as an inference that our future results will be unaffected by unusual or other items. Additionally, Adjusted EBITDA and other non-GAAP metrics used herein are not intended to be a measure of free cash flow for management's discretionary use, as they do not reflect our tax payments and certain other cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized. Management compensates for these limitations by relying on our GAAP results in addition to using Adjusted EBITDA and other non-GAAP metrics as supplemental measures of our performance. Our measure of Adjusted EBITDA and other non-GAAP metrics used herein is not necessarily comparable to similarly titled captions of other companies due to different methods of calculation.
We are not able to provide a reconciliation of Non-GAAP financial measures guidance for the third quarter of 2020, and the fiscal year 2020 to the comparable GAAP measures, because certain items that are excluded from Non-GAAP financial measures cannot be reasonably predicted or are not in our control. In particular, we are unable to forecast the timing or magnitude of share based compensation, amortization of intangible assets, and income or loss on revaluation of contingent consideration, as applicable without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, GAAP measures in the future.
See the tables above regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance for the third quarter of 2020 and the fiscal year ended December 31, 2020, our expected future Adjusted EBITDA profitability, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: our ability to attract and retain a large community of buyers and freelancers; our ability to achieve profitability; our ability to maintain and enhance our brand; our dependence on the continued growth and expansion of the market for freelancers and the services they offer; our ability to maintain user engagement on our website and to maintain and improve the quality of our platform; our dependence on the interoperability of our platform with mobile operating systems that we do not control; our ability to successfully implement our business plan during a global economic downturn caused by the COVID-19 pandemic that may impact the demand for our services or have a material adverse impact on our and our business partners’ financial condition and results of operations; our ability and the ability of third parties to protect our users’ personal or other data from a security breach and to comply with laws and regulations relating to consumer data privacy and data protection; our ability to detect errors, defects or disruptions in our platform; our ability to comply with the terms of underlying licenses of open source software components on our platform; our ability to expand into markets outside the United States; our ability to achieve desired operating margins; our compliance with a wide variety of U.S. and international laws and regulations; our ability to protect our intellectual property rights and to successfully halt the operations of copycat websites or misappropriation of data; our reliance on Amazon Web Services; our ability to mitigate payment and fraud risks; our dependence on relationships with payment partners, banks and disbursement partners; our dependence on our senior management and our ability to attract new talent; and the other important factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 31, 2020 as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. In addition, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events........http://www.fiverr.com/s2/ba5c0fe091
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